Review of OneSmart Travel Card in New Zealand: Guide for NZ Residents

If you’re a New Zealand resident travelling overseas, having a handy travel money card can save you from converting cash and exchange rate headaches.

Air New Zealand offers the OneSmart Travel Money card, a prepaid travel card that can be used worldwide and earns Airpoints when booking air tickets and hotel accommodations. Learn more about the OneSmart Travel Card and how it can make travel more comfortable and convenient.

What is a Travel Money Card?
A travel money card is a multi-currency prepaid card where travellers can load major foreign currencies and spend them overseas. For instance, if you travel to the US, you can load your travel money card with US dollars and use it to make payments. It protects you from exchange rate fluctuations and foreign exchange markup charges. Most cards let you withdraw cash from ATMs overseas.

Overview of OneSmart Travel Card

The OneSmart Travel Card can be used anywhere Mastercard is accepted. It is a reloadable prepaid multi-currency card that allows you to hold and spend in eight foreign currencies plus New Zealand dollars. The OneSmart Travel Card is the only prepaid card that helps cardholders earn Airpoints dollars, making it a good option for Airpoints members who frequently travel overseas.

Table of contents

Benefits of OneSmart Travel Cards OneSmart Card Travel Insurance OneSmart Travel Card Exchange Rate OneSmart ATM Withdrawal Fees OneSmart Card Annual Fees and Limits Multi-currency Card Comparison: OneSmart vs Wise Using OneSmart Travel Card Overseas How to sign up for OneSmart Travel Card Activating the OneSmart Travel Card Loading Money onto your OneSmart Travel Card Paying with OneSmart Travel Card Using OneSmart Travel Card in Foreign ATMs Summary

Benefits of OneSmart Travel Cards

Here are some of the benefits of using a OneSmart Travel Card when going abroad:

1. The card can be loaded with US Dollars, British Pounds, Euros, Japanese Yen, Australian, Singapore, Hong Kong, and Canadian dollars. You can also load your local currency, New Zealand dollars, in case you need to spend locally or want to put money aside for your next trip.
2. Accepted worldwide with MasterCard.
3. It locks in the exchange rate when loading the card, so you don’t need to worry about exchange rate fluctuations as long as you have a balance.
4. You can withdraw foreign currency or NZ dollars from ATMs globally.
5. It is the only prepaid card that earns Airpoints dollars. You get one Airpoints dollar for every $100 NZD spent overseas or $200 NZD in New Zealand.
6. You can reload the OneSmart travel card whenever you want.
7. The OneSmart travel card lets you spend in any currency, even if it differs from the one you have already loaded into.
8. OneSmart travel card holders are eligible to receive exclusive Mastercard offers and discounts.

Since you load the OneSmart travel card with foreign currency, you do not incur any additional foreign currency markup charges when using the card overseas. However, spending in a currency different from that loaded into the card entails a foreign currency conversion charge of 2.5% of the transaction value. Check out the section below for additional information on fees.

OneSmart Card Travel Insurance

The OneSmart travel card does not offer built-in travel insurance. However, New Zealand residents travelling overseas can buy a separate travel insurance policy from other service providers. An alternative may be your credit card, as many offer a built-in travel insurance facility.

OneSmart Travel Card Exchange Rate

When loading foreign currencies, the OneSmart travel card sets its own exchange rates, which may be more expensive than the mid-market rate you see on Google. Before adding a balance, you can check the up-to-date OneSmart conversion rates on the website.

OneSmart travel card allows users to pay in currencies other than those loaded. For example, you can use the card to pay in Swiss Francs in Switzerland from your Euro balance. In that case, the Dynamic Currency Conversion facility will be used for the euros-to-francs conversion. However, this can make the transaction more expensive.

OneSmart ATM Withdrawal Fees

In case you need cash overseas, you can withdraw cash from ATMs that accept Mastercards. The OneSmart ATM withdrawal fees are as follows:

• The domestic ATM withdrawal fee is 2.00 NZD per withdrawal.
• The first three international ATM withdrawals are free every month.
• You incur an ATM withdrawal fee of 3 NZD for every subsequent withdrawal.

Some ATM operators may have an additional withdrawal fee:

Currency	Additional withdrawal fee
British Pounds	£1.50 GBP
Australian dollars	$2.50 AUD
Hong Kong dollars	$20.00 HKD
Canadian dollars	$2.50 CAD
Japanese Yen	¥250.00 JPY
Euros	€2.00 EUR
Singapore dollars	$3.00 SGD
U.S. dollars	$2.50 USD

OneSmart Card Annual Fees and Limits

While the OneSmart travel card is free to join, there are loading fees whenever you add foreign currency to the card. Let’s look at the OneSmart travel card annual fees and limits.

Transaction Particulars	OneSmart Travel Card Fee Amount
Initial card issuance	Free
Replacement card	Free
Debit card load fee	1.50% of the amount loaded
Currency conversion fee	2.50% of the transaction value
Card-to-card fee	Free
Monthly maintenance fee	1 NZD

Transaction Particulars	OneSmart Travel Card Limits
The maximum individual amount you can load in any 24 hours	20,000 NZD or currency equivalent
The maximum amount that can be withdrawn from ATMs in any 24 hours	3,000 NZD or currency equivalent
Maximum balance allowed at any time on the OneSmart travel card	100,000 NZD or currency equivalent
The maximum amount you can load on the OneSmart card during 12 months	100,000 NZD or currency equivalent
Minimum balance allowed on the card	None (No overdraft is allowed)
The maximum amount you can transfer to another OneSmart facility in any 24-hours	20,000 NZD or currency equivalent
Maximum value of POS transactions in any 24 hours	15,000 NZD or currency equivalent
The maximum amount you can load using your debit card in any seven days	30,000 NZD or currency equivalent
The maximum amount you can load using your debit card in any 30 days	60,000 NZD or currency equivalent

Multi-currency Card Comparison: OneSmart vs Wise

The OneSmart travel card lets New Zealand residents hold multiple currencies on a single card to spend while travelling abroad for holidays, studies or work. In addition to using the card online and for in-store purchases, you can withdraw cash from ATMs overseas.

The Wise Travel Card is also a multi-currency card but offers more extensive coverage and cheaper fees, making it an attractive alternative. Let’s compare the two cards to understand their similarities and differences better.

Parameters	OneSmart Travel Card	Wise Travel Card
Eligibility	All NZ residents of 16 years and above	Available in select countries globally
Available currencies - holding and exchange	Nine, including NZ dollars	40+ currencies
Availability for spending	All countries except Iran, North Korea, Sudan, Syria, Russia (Crimea, Donetsk, and Luhansk regions), and countries prohibited by US Government sanctions	150+ countries
Initian Card Fee	None	One-time fee of 14 NZD
Account Maintenance Fee	1 NZD per month	None
Exchange Rate	As decided by OneSmart, depending on the market rates	Mid-market rates
ATM withdrawal fee	Domestic ATMs - 2.50 NZD per transaction International ATMs - 3 transactions free per month, 3 NZD per transaction from the fourth transaction onwards	Less than 350 NZD - 2 free withdrawals per month, 1.50 NZD for every subsequent withdrawal.
Receive payments	Card-to-card transfer allowed	From 40+ currencies
Withdraw funds back to the account	Available when you close the account	Available to the linked accounts

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Using OneSmart Travel Card Overseas

You can use your OneSmart travel card at all stores, merchants, restaurants and ATMs that support MasterCard.¹

The card can be used by swiping or tapping in person at a merchant or online.

Please note that you cannot use the OneSmart travel cards in Iran, Sudan, North Korea, Syria, Russia, Crimea, Donetsk, and Luhansk regions. Note: Mastercard does not work at Russian merchants and ATMs.

How to sign up for OneSmart Travel Card

If you’re ready to sign up for a OneSmart Travel Card, you can do so online. The first step is to request a new OneSmart Travel Card at the official website.

1. Access the OneSmart Travel Card website and click “Don’t have a card? Request one.”
2. OneSmart card is available for all NZ residents above 16 years who are Airpoints members.
3. Click on the “Get OneSmart now.”
4. Sign in to the Air New Zealand website and complete the online application.
5. If you are not an Airpoints member, you can join Airports here.

You will be asked to provide verification. Here are some of the documents to show proof of identity:

1. Driver’s license
2. Birth certificate
3. NZ citizenship document
4. AA membership
5. Recent utility bill

The card will be delivered within three to four weeks. Once you receive it, you can activate it and load foreign currencies online.

Activating the OneSmart Travel Card

Once you receive the OneSmart travel card, you must activate it before using it. You can activate the card online.

When activating the card, you must set a PIN for it. Here are the steps:

1. Download the OneSmart app.
2. Login to OneSmart.
3. Select Settings
4. Go to Card Settings
5. Select Set your PIN
6. Follow the prompts and complete the PIN setting procedure.

The PIN will help you make purchases and be required at most ATMs.

Loading Money onto your OneSmart Travel Card

You can load currency onto your OneSmart Travel Card in three ways, each with its own costs.

Via Mastercard or Visa debit card

You can instantly use any Visa or Mastercard debit card issued in New Zealand to load NZ dollars or any designated foreign currency. The currency loading fee is 1.5% of the load value. Your funds are immediately available for use.

Via Bank Transfer

Loading your OneSmart travel card through bank transfer is free.

1. Log in to OneSmart.
2. Select “Settings” and proceed to “Load Settings.”
3. Follow the instructions and complete the bank transfer.
4. The funds are available for use after one business day. Ensure you have enough in your bank account before making the transfer.

Via Bill Payment

You can transfer NZ dollars onto your OneSmart travel card by setting OneSmart as a bill payee through Internet banking. This process does not incur any fee. However, you cannot load foreign currency using this method.

1. Log in to One Smart.
2. Select Settings.
3. Proceed to Load Settings.
4. Follow the instructions and complete the bank transfer. The funds are available for use after two days.

If you have loaded NZ dollars, you can convert your balance into one of the foreign currencies online or in the app.

Paying with OneSmart Travel Card

Your OneSmart travel card anywhere Mastercard is accepted. After your purchase, you can swipe or tap the card on the machine, and the amount will be debited automatically. The same goes for online purchases.

The OneSmart travel card does not support Google Pay or Apple Pay.

Using OneSmart Travel Card in Foreign ATMs

You can withdraw foreign currency at ATMs overseas that accept MasterCard. The first three withdrawals in a month overseas are free. After that, each withdrawal has an ATM withdrawal charge of 3 NZD per transaction. The local ATM may have additional charges.

Summary

OneSmart travel card is a prepaid card offering Airpoints dollars and can be used anywhere Mastercard is accepted. Although the card comes with fees and limited currencies, it can make sense for New Zealand residents who want to earn Airpoints.

As an alternative, we invite you you check out Wise Card lets you spend like a local in 40+ currencies with mid-market exchange rate. With an award-winning app, you can send, spend and hold money and pay with Google Pay or Apple Pay. The Wise card is accepted in over 150+ countries.

Get a Wise card today 💳

---

Sources used for this article:

• OneSmart card